Gold has always been an important asset in India. It is not only considered a symbol of wealth and prestige but also holds cultural and religious significance. Gold jewelry is an integral part of Indian weddings and occasions. In this article, we will discuss the price of a 100-gram gold necklace in India.
Factors Affecting 100 Gram Gold Necklace Price in India
The price of a 100-gram gold necklace in India depends on various factors. The price of gold in the international market, the currency exchange rate, taxes, and the making charges are the primary factors affecting the price.
Price of Gold in the International Market
The price of gold is determined by the global market demand and supply. The price is usually quoted in USD per ounce. The price of gold is inversely proportional to the strength of the USD. Any fluctuations in the USD affect the price of gold.
Currency Exchange Rate
The currency exchange rate affects the price of gold jewelry in India. If the INR gets weaker against the USD, the price of gold jewelry increases.
Taxes
The taxes levied by the government also affect the price of gold jewelry in India. The GST (Goods and Services Tax) is currently levied at 3% on gold jewelry.
Making Charges
The making charges are the fees charged by the jeweler for making the gold jewelry. It includes the cost of labor, designing, and other overhead expenses. The making charges vary from jeweler to jeweler and can range from 6% to 14% of the gold value.
Current Price of 100 Gram Gold Necklace in India
The current price of a 100-gram gold necklace in India can vary depending on the factors mentioned above. As of August 2021, the approximate price of a 100-gram gold necklace in India is around INR 5,20000.
Best Places to Buy 100 Gram Gold Necklace in India
There are many places to buy a 100-gram gold necklace in India. Some of the best places to buy gold jewelry in India are:
1. Tanishq
Tanishq is one of the most popular jewelry brands in India. They offer a wide range of gold jewelry designs at competitive prices.
2. Kalyan Jewellers
Kalyan Jewellers is another popular jewelry brand in India. They offer a diverse collection of gold jewelry designs at reasonable prices.
3. PC Jeweller
PC Jeweller is a well-known jewelry brand in India. They offer a wide range of gold jewelry designs at affordable prices.
Conclusion
Gold jewelry is a significant investment in India. The price of a 100-gram gold necklace in India is affected by various factors such as the price of gold in the international market, currency exchange rate, taxes, and the making charges. It is essential to buy gold jewelry from a trusted jeweler to ensure the purity and authenticity of the gold.
Related video of 100 Gram Gold Necklace Price In India
